Gold futures fell on Thursday after the precious commodity notched a fresh six-year high Wednesday, prompted by a cocktail of lower debt yields, a pause in dollar strength and bullish comments from a prominent hedge-fund investor.
August gold trading on Comex tacked on $4.80, or 0.3%, to settle at $1,428.10 an ounce, after climbing by 0.9% on Wednesday. The latest settlement was the highest for a most-active contract since May 13, 2013, FactSet data show.
September silver added 22.7 cents, or 1.4%, to end at $16.198 an ounce, representing the latest in a series of sharp gains for gold’s sister metal. Most-active contract prices finished at their highest since June 29, 2018, according to Dow Jones Market Data.